Sumitomo Life Insurance Co. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 73,700 shares of the gold and copper producer’s stock, valued at approximately $3,211,000.
A number of other hedge funds have also modified their holdings of B. CW Advisors LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $283,000. EverSource Wealth Advisors LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $53,000. First Trust Advisors LP purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $857,000. Baird Financial Group Inc. purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $2,569,000. Finally, Cresset Asset Management LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $543,000. 90.82% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on B. Canaccord Genuity Group dropped their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays began coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective for the company. Finally, Canadian Imperial Bank of Commerce dropped their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.46.
Barrick Mining Stock Up 2.9%
B stock opened at $40.22 on Friday. The stock has a market capitalization of $66.89 billion, a P/E ratio of 11.11, a PEG ratio of 1.11 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The company has a 50 day moving average price of $41.51 and a two-hundred day moving average price of $43.85.
Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining’s revenue was up 66.7% compared to the same quarter last year. As a group, sell-side analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current year.
Barrick Mining Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s payout ratio is presently 19.34%.
Barrick Mining Profile
Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.
The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.
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